By Paul Bolster
Do something about the commercial appraisal process. Why are our elected officials ignoring the equal assessment clause in Georgia’s Constitution? The AJC says residential increase 17% but commercial only 2.7% in Fulton. Data from Julian Bene shows big commercial sales in 2021 were on the tax rolls for an average 56% of their sale price. His data shows the problem goes back for years. He says “a few trophy properties sold this year with appraisals averaging 43% of the price they fetched”.
The appraisal system puts commercial values off the tax rolls. Because of this appraisal imbalance the cost of local government is rapidly shifting to single family home owners. It is a good reason to appeal your assessment every time. It’s too late this year, but not too late for our elected officials to do something about it. During his campaign, our current mayor said he would do something about the issue. When? If legislators want to give a property tax break to voters, they might consider an assessment break at the next meeting of the General Assembly. A big jump in the Fulton County homestead exemption would help right the imbalance here. Maybe someone will find a great lawyer and challenge the constitutionality of this mess.